Thailand Imposes Fresh Covid Restrictions, Local Data Eyed

Spot USD/THB hovers near yesterday's closing levels, last -0.017 at THB31.198. Bears look for a slide past Apr 19 low of THB31.173, which would complete the formation of a double top pattern. Next support is located at THB31.060, Mar 26 low. Bulls look for a rally past Apr 26 high of THB31.493, towards Apr 12 high of THB31.575, after the rate formed a golden cross earlier this week.

• National Covid-19 task force decided to extend the length of mandatory quarantine for people entering the country to two weeks, unwinding an earlier decision to cut its duration, casting doubt on the gov't's tourism re-opening plans. The panel also announced a suite of other targeted restrictions, including a mask mandate and ban on large social gatherings.
• As plans to reopen the tourism sector are facing intensifying headwinds, Phuket's authorities have asked for permission to buy Covid-19 vaccines on their own in a bid to facilitate allowing foreign visitors to enter the resort island.
• In a follow-through from recent discussions on vaccination procurement with the private sector, the Federation of Thai Industries said it will proceed with plans to import jabs for companies wanting to inoculate their workers. Elsewhere, the Thai Chamber of Commerce said that "the private sector does not need to acquire more [jabs] and add financial burden to company budgets."
• Dep PM Prawit chairs a national palm oil policy meeting today.
• Coming up in Thailand today we have BoP current account balance, trade date & the weekly update on foreign reserves.
• Looking further afield, next week's docket features CPI & Business Sentiment (Wednesday) as well as Consumer Confidence (Thursday).
• Also on Wednesday, the BoT will deliver their latest MonPol decision, but there is little scope for any move in interest rates.